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Crypto Flipsider News – July 27th – Amazon, Tether Investigation, Goldman Sachs, Elon Musk, Tesla, and Bitcoin, NFT Updates

  • Amazon denies rumors of an upcoming Bitcoin payment method.
  • US officials investigate Tether executives for bank fraud.
  • Goldman Sachs applies for a DeFi ETF.
  • A love triangle between Elon Musk, Tesla, and Bitcoin. 
  • NFT updates: Shopify, Vitalik Buterin, and Mila Kunis’ Animated NFT Show

Amazon Denies Rumors of an Upcoming Bitcoin Payment Method

Amazon has denied the rumors that shook the cryptoverse on Monday. Unconfirmed reports from an anonymous insider said that the e-commerce giant would start accepting Bitcoin payments by the end of this year. According to them, Amazon is also working on its own token that will be launched in 2022.

Amazon took the crypto spotlight after publishing a job listing for a Digital Currency and Blockchain Product Lead. Bitcoin spiked by 12% within hours of the information appearing on the scene, almost reaching the $40K mark.

Flipsider:

  • It seems someone is lying again. On whom would you bet, crypto detectives? What could their motives be? Amazon may be trying to conceal leaked strategic development plans. Or perhaps this anonymous insider intended to drive Bitcoin’s price up, as indeed happened. Each side may have something to hide. The only clear point is: Amazon has a mole. 

US Officials Investigate Tether Executives for Bank Fraud

U.S. officials are said to be investigating Tether executives for potentially committing bank fraud in the past, according to a Monday morning report by Bloomberg

The Department of Justice is investigating whether Tether misled banks by concealing transaction links to crypto. Bloomberg stated that three people with direct knowledge provided the information on the matter. However, the sources asked not to be named because “the probe is confidential.”

The report claims that the investigation is centered around conduct that occurred years ago, when Tether was still in its developing stages. 

Tether has since responded, saying  that it has routinely opened dialogue “with law enforcement agencies, including the U.S. Department of Justice, as part of our commitment to cooperation, transparency, and accountability,” 

Flipsider:

  • While Bloomberg has been quick to spread this news without naming its sources, the Department of Justice has so far declined to comment. Without further comment, it’s difficult to tell how serious the investigation is. 

Goldman Sachs Applies for a DeFi ETF

Investment bank Goldman Sachs has plans in the decentralized finance (DeFi) sector. The Wall Street legend has filed an application with the SEC for a DeFi exchange-traded-fund (ETF), called “Innovate DeFi and Blockchain Equity ETF.”

This would give Goldman Sachs exposure to public companies working in the DeFi industry. 

Nearly 80% of the assets will be invested in them. Goldman Sachs’ application is the first ETF application focused on decentralized finance.

Flipsider:

  • The space can get too crowded with competition and fillings. Grayscale, SkyBridge, Fidelity, and VanEck have filed for Bitcoin and Ethreum ETFs, but the SEC has so far kept calm and given no green lights. So, there is no other option for newcomers than to find a unique proposition in the institutional rat race. But it still is good news for DeFi.

A Love Triangle Between: Elon Musk, Tesla, and Bitcoin

The relationship between Elon Musk and Bitcoin is a never-ending story. Despite his investment into the integration of “technologies of the future” into the everyday lives of people, with products like Tesla, SpaceX, and SolarCity, his approach to the world’s largest crypto remains hypocritical.

In the Tesla Q2 report, it was mentioned that the company still holds $23 million in bitcoin holdings. This revealed that Tesla isn’t selling, even despite the recent peak of the crypto. Tesla considers Bitcoin to be an inventory asset, although the company has stopped accepting it as a payment for cars.  

Flipsider:

  • Elon Musk is an outspoken personality. It’s better to say nothing about him than to comment on everything he does.  

NFT Updates: Shopify, Vitalik Buterin, and Mila Kunis’ Animated NFT Show

  • Shopify has announced that it will support the sale of NFTs, though the trading of these items will be limited, Harley Finkelstein, president of the company, mentioned on his Twitter account.  
  • Stoner Cats is Mila Kunis’ new animated series, which has an interesting method of distribution. In order to watch an episode, users must first buy an NFT that is both a ticket and a piece of art. The cast of the series features such Hollywood actors as Ashton Kutcher, Jane Fonda, Chris Rock, and rising star – Vitalik Buterin.  It’s not the first time that the Ethereum creator has been pegged for film production. He even appeared once in a tweet of Ashton Kutcher and Mila Kunis. 

Flipsider:

  • As mentioned in a previous digest – a star is being born. It’s interesting to observe how Vitalik is dabbling in different fields. We shall soon see if “a talented man is talented in everything.” 

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